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Feeling lucky?
By Toby Walne
Entering competitions has become a very a shrewd investment for dedicated 'comper' Lynne Hargreaves from Poulton-Le-Flyde in Lancashire. 'Compers' are people who have turned competitions into a money-making art - and 46-year-old Lynne has travelled the world, won cars, paid off her mortgage, and earns a healthy income all thanks to prize draws and other competitions.
Hard work
However, she also proves the adage that you must make your own luck in life by knuckling down to complete at least 25 brain-teasers a day. She explains: "There is no use saying you have no chance. The secret is simple - you must enter as many competitions as possible to improve the odds of winning."
Although Lynne cruises the supermarket aisles in search of competitions and gets tips from friends, her main source of income comes from specialist magazines which tell you about hundreds of prizes up for grabs every month.
Lynne picks up an average of three wins a week and draws a minimum of £12,000 a year in cash on top of a huge range of prizes - from 3lbs of sausages to a world cruise. Her best win was a £178,000 windfall, plus £25,000 a year for life on retirement, from a national newspaper competition. The worst was a head-lice comb as second prize in a beauty draw. Another odd win was a year's supply of Oxo cubes. Totting up the cash wins and prize values, Lynne reckons she's won around £1 million over 18 years.
Winning formula
So how can you increase your odds of winning competitions?
Lynne suggests checking the small print of prize draws to see if you can make multiple entries. If you are entering local lucky dips, brightly coloured envelopes and eye-catching postcards can also improve your chances. Searching out obscure competitions is a good bet too as they may attract just a handful of entrants.
Lynne entered her first competition in 1988, after a spell of bad health left her virtually housebound. Almost 20 years on and the attraction isn't just the money, but also the thrill and excitement of landing an unexpected prize.
She says: "People tell me I'm lucky when I win a competition. They forget that for every win I may have had to enter more than a hundred competitions. I tend to spend an hour a day on it, and sometimes it can be hard when you're not in the mood. But if you don't take part then you can't win, so that's what drives me on."
Investment
It's not just time that you need to invest in successful 'comping', there's also the hefty postage bill, which for Lynne is about £1,000 a year.
Although some fabulous prizes have landed on Lynne's doorstep, such as an all-expenses-paid holiday in Mauritius, Lynne has also received lots of unwanted prizes with no cash alternative.
However, she still manages to make a profit from these. "Part of the skill of being a successful 'comper' is knowing how to dispose of many of the prizes. I sell the goods by advertising in the local press or to neighbours. Another alternative is eBay."
Toby Walne is a financial journalist specialising in alternative investment
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